Buying With 100% Owner Financing
Okya if I find a deal with 100% owner financing, and I get the deed, if they have a mortgage in place is there a chance that the bank would call their loan due before I refi. And is this deal even possible if so what steps are involved.
When buying a property subject to existing loans there is always a chance that the loan will be called due. However, this is very unlikely as long as the payments are kept current.
You will want to get a warranty deed, POA, affidavit, some kind of sales agreement, authorization for information/change of address for mortgage and insurance companies.